The bailout plan

So they finally passed a bailout package and one of the powers it grants the administration is the power to take an equity stake in the banks being bailed out.  So basically the taxpayers would become stockholders of the banks instead of owners of the banks’ failed debt.  As stockholders, the taxpayers would own both the bad debt but also part of the productive areas of the banks’ business.  I know some conservatives who oppose that idea because it simply smells too much like socialism…the government owning companies.  I say just the opposite is true.

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